Retail and consumer goods industry news

14 March 2022
Grab Holdings, Southeast Asia’s ride-hailing and delivery provider, reported a loss that doubled to US$1.1bn in Q4 2021, while SEA Limited that operates Shoppee had net loss that widened to US$616m in Q4 2021. Delivery Hero, which operates Foodpanda, reported losses of US$888m for the full year. SEA expects ecommerce business to continue growing Despite the net loss, its revenue jumped 106%...
14 March 2022
7-Eleven launches 2022 presidential election cups in time for the national elections on 9 May. Special edition cups available across the country The cups come in 22-oz and 12oz sizes for either cold drinks or coffee. They show the names and images of five presidential candidtates: Senator Ping Lacson, Senator Manny Pacquiao, Vice President Leni Robredo, Manila Mayor Isko Moreno, and ex-sena...
14 March 2022
JD.com reports a loss of CNY3.6bn (US$0.6bn) attributable to shareholders and a net income of CNY49.4bn (US$7.8bn) for 2022.   Slowing economic growth China has announced a slower GDP growth of 5.5% this year compared to 8.1% last year. JD.com’s latest results came after Alibaba Group posted its lowest ever quarterly revenue growth, a year-on-year increase of 10% to CNY275.9bn (US$43.4bn). ...
11 March 2022
Sobeys saw same-store sales fall 1.7% in the third quarter as it faced tough comparables from last year. But it continues to grow its margins and improve profitability. What’s behind this performance? Q3 key numbers Total sales up 5.1% to $7.4 bn, reflecting the acquisition of Longo’s Same-store sales (ex-fuel) down 1.7%, but up 8.3% over a two year period Ecommerce sales up 17% Net...
11 March 2022
Consumer prices rose 7.6% year-on-year in February in Spain, the highest level since 1986. The increase in prices was driven by a perfect storm of rising costs across most industries, but especially energy and food. In relation to food, there have been increasing production costs that affect the entire food chain, from farmers to food producers and retailers, which is prompting a steep rise in...
10 March 2022
The US annual Consumer Price Index (CPI) rose to a high of 7.9% in February, driven by higher fuel and energy prices. We look at what's driving this and what comes next. Pre-Ukraine impacts Inflation has risen to a 40-year high in the US, with the latest increase pre-dating the war in the Ukraine. This is likely to drive the prices of several commodities higher. The price of gasoline was up...
10 March 2022
M&S has announced that Steve Rowe will stand down as CEO at the retailer’s preliminary results on May 25 th as part of a planned succession programme. He will be succeeded by Stuart Machin, Chief Operating Officer and MD of Food with Katie Bickerstaffe promoted to the new role of co-chief executive. Steve Rowe’s multiple achievements as CEO Often it takes an outsider to deliver radical c...
10 March 2022
JLP results for the 52 weeks up to 29 January 2022 show similar results to last year, with a small decline in sales. Key figures: Waitrose sales: £7.54bn (2020/21 £7,595m) -1% Waitrose like-for-like sales: +1% Sales comparison to 2019/20: +9% (+11% like-for-like) Online sales: Account for 17% of total sales (+14% on 2020/21 and +5% on 2019/20) Four strategic priorities for ...
10 March 2022
Jerónimo Martins has announced its FY2021 results, revealing a positive performance across all countries where it operates, Colombia, Poland, and Portugal. Positive sale growth Jerónimo Martins saw sales grow 8.3% to €20.9 bn in 2021, with like-for-like (LFL) sales rising 8.0%. The retailer revealed the positive results were supported by the cumulative effect of all banners and their drive ...
09 March 2022
Target has launched a new sustainability icon, Target Zero, which helps shoppers to identify products with packaging designed to be refillable, reusable or compostable, or items made from recycled content or materials like aluminium, steel or glass that reduce the use of plastic. Making it easier to shop sustainably Target Zero offers a range of curated items from brands such as Burt’s Bees...